272,906 Shares in APi Group Corporation $APG Purchased by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership acquired a new position in shares of APi Group Corporation (NYSE:APG) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 272,906 shares of the company’s stock, valued at approximately $13,932,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. PNC Financial Services Group Inc. boosted its stake in shares of APi Group by 5.9% in the first quarter. PNC Financial Services Group Inc. now owns 5,420 shares of the company’s stock worth $194,000 after acquiring an additional 303 shares during the last quarter. Cresset Asset Management LLC raised its stake in APi Group by 3.6% in the 1st quarter. Cresset Asset Management LLC now owns 10,693 shares of the company’s stock valued at $382,000 after purchasing an additional 374 shares during the last quarter. State of Wyoming lifted its holdings in APi Group by 10.7% in the 1st quarter. State of Wyoming now owns 4,106 shares of the company’s stock valued at $147,000 after purchasing an additional 397 shares in the last quarter. Ulland Investment Advisors LLC boosted its stake in APi Group by 41.5% during the 2nd quarter. Ulland Investment Advisors LLC now owns 1,500 shares of the company’s stock worth $77,000 after purchasing an additional 440 shares during the last quarter. Finally, Baird Financial Group Inc. boosted its stake in APi Group by 1.1% during the 1st quarter. Baird Financial Group Inc. now owns 42,987 shares of the company’s stock worth $1,537,000 after purchasing an additional 467 shares during the last quarter. Hedge funds and other institutional investors own 86.62% of the company’s stock.

Insiders Place Their Bets

In other APi Group news, Director Martin E. Franklin sold 340,000 shares of the stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $36.09, for a total transaction of $12,270,600.00. Following the sale, the director directly owned 18,968,790 shares in the company, valued at $684,583,631.10. This represents a 1.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have sold 900,000 shares of company stock worth $32,342,000. 17.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

APG has been the subject of a number of recent research reports. Citigroup reiterated a “buy” rating and issued a $45.00 target price (up from $43.00) on shares of APi Group in a research report on Monday. Barclays increased their price objective on shares of APi Group from $42.00 to $44.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. Zacks Research lowered shares of APi Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 15th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of APi Group in a research report on Monday, December 1st. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.81.

APi Group Stock Performance

NYSE:APG opened at $38.88 on Tuesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.41 and a current ratio of 1.48. The stock has a market capitalization of $16.17 billion, a P/E ratio of 106.02 and a beta of 1.72. The company has a 50 day moving average price of $36.29 and a 200 day moving average price of $34.90. APi Group Corporation has a fifty-two week low of $20.50 and a fifty-two week high of $39.65.

APi Group (NYSE:APG) last posted its earnings results on Thursday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. The firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.01 billion. APi Group had a return on equity of 21.86% and a net margin of 3.44%.APi Group’s revenue was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.51 EPS. Equities research analysts forecast that APi Group Corporation will post 1.83 EPS for the current year.

APi Group Profile

APi Group Corporation provides safety and specialty services worldwide. It operates through Safety Services and Specialty Services segments. The Safety Services segment offers solutions focusing on end-to-end integrated occupancy systems, such as fire protection services; heating, ventilation, and air conditioning solutions; and entry systems, which include the design, installation, inspection, and service of these integrated systems.